Agreement with Saba

Summary by AI BETAClose X

Aberdeen UK Smaller Companies Growth Trust plc has entered into a three-year agreement with abrdn Fund Managers Ltd and Saba Capital Management L.P. Under this agreement, Saba has undertaken not to propose resolutions, requisition meetings, seek board changes, influence the company's management, vote against board recommendations, or engage in short selling of the company's shares until the earlier of the 2029 annual general meeting or when abrdn Fund Managers Ltd ceases to be the alternative investment fund manager. This agreement, which involved no monetary consideration from the Trust to Saba, does not restrict Saba's ability to accept takeover offers or deal in shares, excluding short selling.

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